SAN FRANCISCO (AP) — Netflix has announced another quarter of steady growth as the video streaming service’s more than 300 million subscribers have become increasingly attractive to advertisers.

It’s a familiar script that Netflix has followed for the past three years to widen its lead in video streaming while delivering financial results that have usually exceeded the analyst projections that steer investors.

While Netflix’s profit eclipsed Wall Street’s expectations by a wide margin in the April-June quarter, its revenue came in right around the bar set by analysts.

The Los Gatos, Calif., company earned $3.1 billion, or $7.19 per share, a 46 percent increase from the same time last year. Revenue rose 16 percent to $11.08 billion.

Management also slightly raised its revenue forecast for the entire year, citing a belief that its programming lineup will reel in more subscribers in the second half than the first.

“We’re really incredibly excited about the back half of this year and confident that it keeps rolling in ‘26,” Netflix co-CEO Ted Sarandos told analysts during a video conference last week.

Although he said he believes Netflix remains “perfectly positioned to keep thriving,” Investing.com analyst Thomas Monteiro said investors were disappointed that the company didn’t boost its full-year guidance for revenue and its profit margins by even more against the backdrop of its accelerating momentum.

Netflix’s stock price has soared 43 percent this year. The stock’s strong run began during the second half of 2022 when the company introduced a low-priced version of its service with commercial interruptions as an antidote to an abrupt downturn in subscribers.

The video streaming service is also faring well in Hollywood, as evidenced by the 120 Emmy nominations showered upon its programs last week — second only to Warner Bros. Discovery’s HBO Max.

In the past quarter, Netflix hailed “Sirens,” “Ginny & Georgia” and “The Four Seasons” as being among its most watched programming.

Netflix stopped providing quarterly updates on its total subscribers at the beginning of this year, but the company’s revenue growth leaves no doubt that the number has grown from the 302 million reported at the end of 2024.

Netflix said its ad revenue for this year is on pace to double from last year.